ABA, Freddie Form Alliance

The American Bankers Association and Freddie Mac have announced the formation of an alliance that offers ABA member banks greater access to the secondary market and a range of products and services.The agreement offers preferred access to the tools and services on Freddie Mac's loanprospector.com website and a private-label subservicing option through Dovenmuehle Mortgage Inc., among other features. "This is an end-to-end business solution for banks," said Dave Stevens, senior vice president for single family lending at Freddie Mac. "The agreement is designed to meet the needs of ABA members and includes components that improve the front-end origination process, enhance back-end servicing solutions, and energize mortgage portfolio management and investment strategies of participating banks." The ABA can be found online at http://www.aba.com, and Freddie Mac can be found at http://www.freddiemac.com.